To retain transparency with their stakeholders and investors, public companies are obligated to be compliant with the U.S. Securities and Exchange Commission (SEC) requirements for external reporting. The SEC requires complete, accurate, timely, and properly formatted financial disclosures. By automating the application of standardized digital tags on financial statements, XBRL services enable financial statement elements to be labeled consistently and reduce the likelihood of financial elements being either incorrectly classified or omitted.